Taiwan Semiconductor Manufacturing reported net profit of 361.56 billion Taiwanese dollars ($15.4 billion) on 839.25 billion Taiwanese dollars ($35.7 billion) in revenue in the first quarter, up 60.3 per cent and 41.6 per cent year over year, respectively. Both figures exceeded analysts’ consensus estimates as compiled by Visible Alpha. (The Logic)

Talking point: U.S. President Donald Trump said on Sunday that he’d shortly impose tariffs on semiconductor imports. TSMC makes most of the world’s most advanced chips, so any increase in duties will affect its clients. But on Thursday, the firm reaffirmed its 2025 revenue forecast. “We have not seen any change in our customers’ behaviour so far,” CEO C.C. Wei said on an earnings call. TSMC’s shares closed down 0.94 per cent on the Taiwan Stock Exchange, but were up slightly in Thursday trading on the New York Stock Exchange. Not all chip firms have avoided the trade war hit. London-based Alphawave Semi—which was founded in Toronto—said it can’t provide a financial outlook for 2025 or beyond because of economic and tariff uncertainty.